@Liz Ridgway your understanding is correct in that you must sell a material portion (or all) of the real estate activity in order to claim passive losses.

We generally host families or alumni friend groups for events related to sporting or the University.

It makes money from acquisition and asset management fees, which is active income, and pays me and my partner a salary.

Is 5% return over 5 years more or less than using that same $5000 (alone or with additional capital) in another investment (passive or active).

A little bit about myself, I am 23 years old, active duty in the military.

I am very excited to start being more active on the BP forums

If you are actively building your portfolio, might as well take the dive now and learn the system.

I’d just check who has what attaches currently, the ones not active currently I’d remove and I’d have all tenants sign a clause stating that nothing will be attached to the roof or building and there is a (XXX.xx) dollar charge if there is a violation.  

I looked into Keystone CPA, which seems to be active on BP, but I haven’t been able to get a return call from them and also, it seems they are pricey.

BP seems to have a very active and engaging community.